KeyCorp Downgrades Retail Opportunity Investments (NASDAQ:ROIC) to Sector Weight

Retail Opportunity Investments (NASDAQ:ROIC) was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Tuesday, Briefing.com reports.

A number of other research firms have also commented on ROIC. Wells Fargo & Company lifted their price target on shares of Retail Opportunity Investments from $13.50 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Bank of America started coverage on shares of Retail Opportunity Investments in a report on Thursday, October 24th. They issued an “underperform” rating and a $14.00 target price on the stock. StockNews.com raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Raymond James cut Retail Opportunity Investments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Retail Opportunity Investments Price Performance

ROIC opened at $16.80 on Tuesday. The stock has a fifty day moving average price of $15.62 and a 200 day moving average price of $14.00. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.04. Retail Opportunity Investments has a 1 year low of $11.80 and a 1 year high of $17.17. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 36.52 and a beta of 1.44.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Retail Opportunity Investments had a net margin of 17.38% and a return on equity of 4.32%. The business had revenue of $83.50 million during the quarter, compared to analyst estimates of $82.13 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that Retail Opportunity Investments will post 1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Retail Opportunity Investments

Institutional investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. bought a new stake in shares of Retail Opportunity Investments in the 1st quarter worth approximately $129,000. BNP Paribas Financial Markets boosted its stake in Retail Opportunity Investments by 65.4% during the first quarter. BNP Paribas Financial Markets now owns 80,788 shares of the real estate investment trust’s stock worth $1,036,000 after buying an additional 31,958 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Retail Opportunity Investments by 6.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 40,967 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 2,595 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Retail Opportunity Investments by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 110,276 shares of the real estate investment trust’s stock valued at $1,414,000 after buying an additional 1,476 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Retail Opportunity Investments during the 1st quarter worth about $351,000. 97.16% of the stock is owned by institutional investors and hedge funds.

Retail Opportunity Investments Company Profile

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.